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20121205
20121213
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KPIX (CBS) 2
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CBS
Dec 4, 2012 11:00pm PST
. >>> if the mayan calendar doesn't get us we're due to fall of the fiscal cliff. tonight each side insists the other party's plan is impossible. they're dismissing the president's proposal. democrats complain the gop plan is way too vague. the president won't sign anything that doesn't increase taxes for the wealthy. the gop counter offer calls for raising 800 billion in revenue without raising tax rates. >> if washington can't reach a deal cbs reporter jim axle rod says your paycheck is going to feel it. >> the payroll tax cut has given this family an extra $70 a month to spend. >> are you paying attention to what's going on in washington right now. >> of course we are. >> their 50,000-dollar a year income puts them in the middle of american households if the payroll tax cut is not extended those families would pay an average of $1,035 a year more in social security taxes. >> do you have room to cut back. >> no, sir i don't. i guess if i do some type of magic like we do every month. >> if the tax cut expires paycheck contributions will go from 4.2 percent to 6.2 percent. $115billion a year that wil
Search Results 0 to 1 of about 2 (some duplicates have been removed)